Producer V.S. Explorer....
posted on
May 29, 2008 05:45PM
Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.
KXL management has made it very clear that they intend to sell off deposits as they are confirmed...and stay as pure Exploration(s) companies,as the different resourses develope...I firmly believe that the following News Release is the horror story for any mining executive and mining company and the costs associated with repair..legal battles..law suits..cleanup and other associated costs ,to mention nothing of insurance expenses ,have put many a good mining company out of business..
And our management are all very experienced business people and are very aware of accidents like this..and am sure an incident like this is a good reason for us to stay as an explorer and let someone else take the mining risk..I'm more than sure that we will be taking a NSR (Net Smelter Royality) on any properties and those cash payments to KXL will come off the top ,for the life of theproperty...as long as it is producing anything smeltable..and forever is a long time to be getting cash off the top..Gotta love it...
Oh..
Here is the NR...
Nasty business..
Will be interesting to track and consolidate the costs...
Ugly...